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    Joshua Young • Truist

    Joshua Young's questions to O'Reilly Automotive Inc (ORLY) leadership

    Joshua Young's questions to O'Reilly Automotive Inc (ORLY) leadership • Q4 2024

    Question

    Joshua Young of Truist Securities inquired about O'Reilly's sourcing exposure to China, Mexico, and Canada, vendor price increase expectations, and the potential impact of proposed tariffs.

    Answer

    President Brent Kirby stated that sourcing from China is in the mid-20% range, with Mexico in the high teens and Canada in the low single digits. He emphasized that the company has diversified its supply chain since the 2018-2019 tariffs and that its large proprietary brand portfolio offers sourcing flexibility. CFO Jeremy Fletcher added that while the tariff situation is a moving target, they are confident in the industry's ability to rationally pass through costs, as demonstrated in past inflationary periods.

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    Joshua Young's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership

    Joshua Young's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership • Q2 2025

    Question

    Joshua Young, on for Scot Ciccarelli, asked for color on SG&A, noting that flow-through seemed limited based on the updated guidance. He also inquired about the long-term stickiness of the higher-income customers Ollie's has attracted.

    Answer

    CEO John Swygert highlighted the strong Q2 SG&A leverage of 100 basis points, attributing 60 basis points to efficiencies in advertising and store payroll initiatives. Executive Vice President and COO Eric van der Valk commented on customer stickiness, stating that while the trend of retaining higher-income shoppers is positive over the last couple of quarters, it's still too early to make a definitive long-term conclusion.

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